Examples of Crude Pipelines in a sentence
During each Contract Quarter during the Term and subject to the terms and conditions of this Agreement, the Company agrees that commencing on the Commencement Date, the Company will ship on (i) the Lion Crude Pipelines, the Lion Crude Minimum Throughput Commitment, (ii) the Gathering System, the Gathering System Minimum Throughput Commitment and (iii) the Products Pipelines, the Product Minimum Throughput Commitment.
TLO will agree to operate and maintain the Short Haul Pipelines in good working order and ship crude petroleum on the Crude Pipelines and refined petroleum products for TRMC on the Products Pipelines that collectively comprise the Short Haul Pipelines, subject to the terms and conditions of this Agreement.
If, during any Month, actual shipments by TRMC on the Crude Pipelines are less than the Crude MTC, then TRMC shall pay a shortfall payment to TSPC based on the Transportation Fees and Excess Throughput Fees for such Month, as set forth and calculated in the Pipeline Service Order applicable to throughput of Crude Oil (the “Crude Shortfall Payment”).
Each Month during the Term, TRMC shall ship the Crude MTC on the Crude Pipelines, or, in the event it fails to do so, shall remit to TLO the Crude Shortfall Payment pursuant to Section 5(d)(i) below.
TSPC and TRMC shall enter into one or more pipeline service orders for the Crude Pipelines, the Refined Product Pipelines and the Other Commodities Pipelines substantially in the form attached hereto as Exhibit 1-A, Exhibit 1-B and Exhibit 1-C respectively (each, a “Pipeline Service Order”).
Citi shall at all times maintain shipper status on each of the Included Crude Pipelines, Included Product Pipelines and other Included Locations on which Crude Oil or Products, as applicable, may be shipped during the Term of the Agreement.
TRMC shall be deemed to have shipped its Crude MTC if the aggregate quantity of Crude Oil that TRMC ships on the Crude Pipelines in any Month equals at least the Crude MTC, regardless of the particular Segments of Crude Pipeline on which those shipments are made.
Crude Pipelines — our right-of-way agreements generally require that pipeline properties be returned to their original condition when the agreements are no longer in effect.
During the Term and subject to the terms and conditions of this Agreement, TSPC shall make available to TRMC at all times (A) throughput capacity on the Crude Pipelines sufficient to allow TRMC to throughput the Crude Reserved Capacity and (B) throughput capacity on the Refined Products Pipelines sufficient to allow TRMC to throughput the Refined Products Reserved Capacity.
Comprised of 5,515 Shares owned directly by Mr. Kramer and 300 Shares owned as custodian for his minor grandchildren.